Following a near seven-week blockade, both Iran and the US stated that the Strait of Hormuz is fully operational for commercial vessels. The announcements suggest a de-escalation in the regional tensions between the two powers.

In an apparent sign that Tehran blinked first in the blockade showdown between Iran and the US, the two sides announced on Friday that the Strait of Hormuz was open and operational after nearly seven weeks that has blocked hundreds of ships and sent energy prices soaring worldwide. “IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!,” US President Donald Trump said on social media. Iranian Foreign Minister Abbas Araghchi posted a similar message....